Breaking News!

Transportation tariff raised up

Fuel Prices Raise Up To 125% in Indonesia

Lombok, October 1st 2005
The Government Of Indonesia through the Minister of Economic, Mr. Aburizal Bakrie has stated a new regulation of fuel prices effective per October 1st at 24:00 AM (local time) according to the President Memo (Peraturan President) No. 55/2005.

The new price are as follows:

The above rate apply to small & medium enterprises, houses, transportation and public services. This new rate includes oil taxes of all kind of motorized vehicles.

As for the Foreign Ships, the International fuel prices applies.
 

Mr. Aburizal Bakrie said that for the last 2 years the oil prices as stated by OPEC keep on raising from US $ 35-40 (last year) to now has become US $ 65 per barrel. Due to the government subsidy to fuel prices that will have direct impact to the deficit of Government Budget (Financing Gap), the government has to come into this unpopular decision.

DIRECT IMPACT

In most big cities in Indonesia, since one week before the Government announced this new regulation, all petrol station (SPBU) reported QUEUED by industries and those who were panics about this sudden announcement to avoid paying the new rates. As reported by most media, this "Q" also causing traffic jam.

Prices of goods and and consumable items also starting to raise since October 2nd up to 25% from its regular prices. Estimated to be raise again due to the Ramadhan and Idul Fitri of Islamic Holiday.

The Indonesian Minister of Transportation, Mr. Hatta Rajassa has announced the new tariff of all ground and sea transportation effective October 2nd 2005. The increase of up to 30% on all type of public transportation has causing a demonstration by bus and taxi's drivers who wish to upgrade their tariff up to 100% following the new fuel prices.

This new regulation will also have direct impact to Tourism Industry (Tour operators, local courier and hotelier).

(text by P@rdi)

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